RAWHIDE COBALT-SILVER PROJECT, ONTARIO

Comstock entered into an option agreement to earn 100% in 5 claims totalling 662 hectares. (announced April 5, 2018) The Rawhide Property is within the Gowganda area of the historic Greater Cobalt Mining Camp which produced >550Moz of silver and 25Mil of cobalt in the 1900’s.

Historical reported work on the Rawhide Property includes prospecting, mapping, sampling, geophysics, pitting and trenching, limited diamond drilling (650 meters) and excavation of several shafts including a two-compartment shaft of unknown depth on system of 2.5 cm calcite veins. 650 m of drilling was conducted in 15 diamond drill holes (1950s-1960s).  Assays including 252.8 g/t silver, 1.81% cobalt, 2.85% copper and 1410 ppm nickel were found.

These reported historical results were used to help prioritize the optioning of the Rawhide Property, however, the reader is cautioned that the Company has not had a Qualified Person (as that term is defined in National Instrument 43-101) visit the Rawhide Property to confirm the results, or their significance, and that proximity to a discovery, past-producing mine or mineral resource, does not necessarily indicate that mineralization will occur on the Rawhide Property, and if mineralization does occur, that it will occur in sufficient quantity or grade that would result in an economic extraction scenario. Detailed descriptions of sampling for which assays are reported were not provided in many cases in the historical reports and, therefore, they should not be considered representative.

The Rawhide Property is underlain predominantly by a north-south oriented body of Nipissing diabase (~1 km wide) which cuts Cobalt Group sediments and felsic intrusive rocks (map below).  Distribution of the silver-cobalt veins in the Cobalt district is controlled by the contact between the Nipissing diabase sheets and the rocks of the Cobalt Group (Gowganda Formation). The veins occur in the diabase and in the sedimentary rocks within about 200 m of their contact with the diabase. They generally dip steeply, extend horizontally as much as 1,000 m and vertically as much as 120 m, and vary up to 1.2 m in width3.

2018 Planned Exploration

The company plans to complete an exploration program, comprising the collection of surface rock grab, and grid humus soil geotechnical samples; in addition to the completion of an approximately 100 line-km ground magnetic geophysical survey.